Multi Chain Decentralized Exchange Dfyn Releases Version 2 Enhancing Security, Trading Functionality, and Order Matching
According to reports, developers have stated that Multi Chain Decentralized Exchange (DEX) Dfyn has released version 2, which enhances security, trading functionality, and order ma
According to reports, developers have stated that Multi Chain Decentralized Exchange (DEX) Dfyn has released version 2, which enhances security, trading functionality, and order matching. The new version uses dedicated treasury contracts to prevent the exploitation of liquidity pool vulnerabilities, which have caused over $300 million in user losses since the beginning of this year.
Multi chain DEX Dyn releases a new version that enhances security, transaction functionality, and order matching
Introduction
Cryptocurrencies and blockchain have been taking over the world of finance over the last decade. As a result, decentralized exchanges (DEXs) have become increasingly popular, allowing users to trade cryptocurrencies securely, without intermediaries. According to reports, the multi-chain DEX, Dfyn, has released version 2, which enhances security, trading functionality, and order matching. The new version uses dedicated treasury contracts to prevent the exploitation of liquidity pool vulnerabilities, which have caused over $300 million in user losses since the beginning of this year.
Dfyn’s Multi Chain Decentralized Exchange
Dfyn is a multi-chain DEX that is built on the Polygon network. It boasts of offering high-speed trading, low fees, and a range of features that bring together the best of automated market-making (AMM) and order book trading. Dfyn aims to make decentralized trading faster, cheaper, and more accessible than centralized exchanges without sacrificing security.
Major Improvements in Dfyn’s Version 2
Version 2 of Dfyn’s decentralized exchange brings in several improvements, which enhance security, trading functionality, and order matching. Some of these improvements include:
Dedicated Treasury Contracts
One of the most significant improvements in version 2 of Dfyn is the use of dedicated treasury contracts. These contracts prevent the exploitation of liquidity pool vulnerabilities by locking a portion of the rewards in a separate address controlled by the Dfyn DAO. This feature ensures that traders and liquidity providers are not susceptible to losses from flash loans or other sophisticated attacks.
Limit and Stop-Loss Orders
Another significant upgrade is the introduction of limit and stop-loss orders. These orders enable traders to set limits on the maximum or minimum price at which they are willing to buy or sell their tokens, respectively, which can reduce risk actively. This feature enhances trading functionality on Dfyn and makes it more responsive to market conditions.
Lower Slippage
Version 2 of Dfyn significantly reduces slippage, making it easier for traders to swap their cryptocurrencies at better exchange rates. This improvement is attributed to better order matching algorithms that optimize liquidity provisioning for market and limit orders. The lower slippage and optimized liquidity provisioning lead to lower trading fees and better execution prices.
Conclusion
The release of version 2 of Dfyn’s multi-chain decentralized exchange brings in significant improvements that enhance security, trading functionality, and order matching. The use of dedicated treasury contracts and introduction of limit and stop-loss orders ensure that traders and liquidity providers are better protected from liquidity pool vulnerabilities and market risks. Additionally, the reduced slippage, better order matching algorithms, and optimized liquidity provisioning make Dfyn an increasingly attractive option for traders looking to use a decentralized exchange.
FAQs
1. What is Dfyn?
Dfyn is a multi-chain DEX built on the Polygon network that offers high-speed trading, low fees, and range of features that bring together the best of automated market-making and order book trading.
2. What are the major improvements in Dfyn’s version 2?
Dedicated treasury contracts, limit and stop-loss orders, and lower slippage are some of the significant improvements in Dfyn’s version 2.
3. How does version 2 of Dfyn enhance security?
The use of dedicated treasury contracts ensures that traders and liquidity providers are better protected from liquidity pool vulnerabilities and other sophisticated attacks.
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